However, spot trading volumes on CEXs remain at 'historically low levels'.
In other news, a New York court has ordered Coinseed and the Founder to pay $424K.
The
combined value of spot and derivatives trading volumes on centralized exchanges
(CEXs) jumped 14.2% for the first time in three months, reaching $2.71
trillion in June. The bullish trend came amidst a
new wave of applications for spot Bitcoin (BTC) exchange-traded funds
(ETFs) by institutional investors.
The latest interest follows an application by BlackRock, the world’s
largest asset manager, in mid-June. The increase in volatility that trailed the US
Securities and Exchange’s (SEC) crackdown on Binance and Coinbase pushed up the
volumes, according to the latest report by digital
asset data provider, CCData.
'Historic'
Lows despite Boom in June
Giving a
breakdown of the figures, CCData noted that spot trading
volume during the recent month jumped 16.4% to $575 billion, with derivatives
volume touching $2.12 trillion, which is an increase of 13.7%.
In addition, the
Chicago Mercantile Exchange (CME), the biggest derivatives marketplace in the world, saw the total
derivatives volume traded on its platform increase 23.6% to $48.3 billion.
CCData pointed out that
institutional investors particularly flocked into BTC futures, with trading in
the derivative contract escalating 28.6% to $37.9 billion, which is the highest
volume traded on CME since November 2021.
However,
despite the positive performance last month, spot trading volumes on CEXs
remain at 'historically low levels’ as the value sank to a level
not seen since the fourth quarter of 2019.
Similarly, the market
share of derivatives trading on CEXs plummeted for the first time in four
months. The market descended ever so slightly to 78.7% last month, declining from a peak of 79.1% achieved earlier in May.
“Binance
remains the largest venue for derivatives trading in crypto, recording $1.21
trillion in volumes,” CCData noted. “However, the exchange’s market share has
declined for the fourth consecutive month, falling to 56.8% in June, its lowest
market share since October 2022.”
On the
contrary, OKX, the second-largest digital asset derivatives trading platform,
saw its trading volumes skyrocket by 44.9% to $416 billion last month, CCData noted. The
exchange now handles 19.5% of derivatives trading on CEXs, which is its highest market
share since April last year.
Court Penalizes Coinseed and Its Founder
In a separate development, a New York judge yesterday (Wednesday) ordered crypto trading platform Coinseed and its former CEO, Delgerdalai Davaasambuu, to cough up roughly $424,000. The amount includes payments for the court’s civil monetary penalty and return of illicit profits plus interest.
The SEC,
which sued Coinseed in 2021 over its alleged unregistered
sale of the ‘CSD’ tokens between 2017 and 2018, secured the order from Judge
Paul G. Gardephe of the Southern District Court in New York. The federal
securities regulator in its lawsuit had accused Coinseed and two of its
top executives of defrauding victims of about $1 million.
In
September 2021, prosecutors in New York secured a court order to shut down the
operations of
Coinseed. They also obtained a money judgment of $3 million against the company
and its Founder.
The
combined value of spot and derivatives trading volumes on centralized exchanges
(CEXs) jumped 14.2% for the first time in three months, reaching $2.71
trillion in June. The bullish trend came amidst a
new wave of applications for spot Bitcoin (BTC) exchange-traded funds
(ETFs) by institutional investors.
The latest interest follows an application by BlackRock, the world’s
largest asset manager, in mid-June. The increase in volatility that trailed the US
Securities and Exchange’s (SEC) crackdown on Binance and Coinbase pushed up the
volumes, according to the latest report by digital
asset data provider, CCData.
'Historic'
Lows despite Boom in June
Giving a
breakdown of the figures, CCData noted that spot trading
volume during the recent month jumped 16.4% to $575 billion, with derivatives
volume touching $2.12 trillion, which is an increase of 13.7%.
In addition, the
Chicago Mercantile Exchange (CME), the biggest derivatives marketplace in the world, saw the total
derivatives volume traded on its platform increase 23.6% to $48.3 billion.
CCData pointed out that
institutional investors particularly flocked into BTC futures, with trading in
the derivative contract escalating 28.6% to $37.9 billion, which is the highest
volume traded on CME since November 2021.
However,
despite the positive performance last month, spot trading volumes on CEXs
remain at 'historically low levels’ as the value sank to a level
not seen since the fourth quarter of 2019.
Similarly, the market
share of derivatives trading on CEXs plummeted for the first time in four
months. The market descended ever so slightly to 78.7% last month, declining from a peak of 79.1% achieved earlier in May.
“Binance
remains the largest venue for derivatives trading in crypto, recording $1.21
trillion in volumes,” CCData noted. “However, the exchange’s market share has
declined for the fourth consecutive month, falling to 56.8% in June, its lowest
market share since October 2022.”
On the
contrary, OKX, the second-largest digital asset derivatives trading platform,
saw its trading volumes skyrocket by 44.9% to $416 billion last month, CCData noted. The
exchange now handles 19.5% of derivatives trading on CEXs, which is its highest market
share since April last year.
Court Penalizes Coinseed and Its Founder
In a separate development, a New York judge yesterday (Wednesday) ordered crypto trading platform Coinseed and its former CEO, Delgerdalai Davaasambuu, to cough up roughly $424,000. The amount includes payments for the court’s civil monetary penalty and return of illicit profits plus interest.
The SEC,
which sued Coinseed in 2021 over its alleged unregistered
sale of the ‘CSD’ tokens between 2017 and 2018, secured the order from Judge
Paul G. Gardephe of the Southern District Court in New York. The federal
securities regulator in its lawsuit had accused Coinseed and two of its
top executives of defrauding victims of about $1 million.
In
September 2021, prosecutors in New York secured a court order to shut down the
operations of
Coinseed. They also obtained a money judgment of $3 million against the company
and its Founder.
Solomon Oladipupo is a journalist and editor from Nigeria that covers the tech, FX, fintech and cryptocurrency industries. He is a former assistant editor at AgroNigeria Magazine where he covered the agribusiness industry. Solomon holds a first-class degree in Journalism & Mass Communication from the University of Lagos where he graduated top of his class.
Crypto.com Cements Australia Presence: Acquires Locally Licensed CFDs Broker
Finance Magnates Annual Awards 2024 | FM Awards 2024 Highlights
Finance Magnates Annual Awards 2024 | FM Awards 2024 Highlights
🎥Catch the best moments from the Finance Magnates Annual Awards Gala Dinner!
An evening where top names in finance came together to celebrate achievements, enjoy live music, and connect over a memorable dinner. Watch the highlights and feel the energy of our first gala in Cyprus!
Congratulations to all the winners for their dedication to excellence and leadership in the financial industry, including XM, Trading PRO, FP Markets, Deriv, FxPro, LATAM, Headway, ATFX, FBS, AMEGA, EC Markets, Axi
For more information about the 1st Finance Magnates Annual Awards, visit https://bit.ly/3Zb7wNz
#FinanceMagnatesGala #IndustryExcellence #GalaHighlights #FinanceMagnatesAnnualAwards #FinanceMagnatesAwards #CelebratingSuccess #FinanceCommunity
🎥Catch the best moments from the Finance Magnates Annual Awards Gala Dinner!
An evening where top names in finance came together to celebrate achievements, enjoy live music, and connect over a memorable dinner. Watch the highlights and feel the energy of our first gala in Cyprus!
Congratulations to all the winners for their dedication to excellence and leadership in the financial industry, including XM, Trading PRO, FP Markets, Deriv, FxPro, LATAM, Headway, ATFX, FBS, AMEGA, EC Markets, Axi
For more information about the 1st Finance Magnates Annual Awards, visit https://bit.ly/3Zb7wNz
#FinanceMagnatesGala #IndustryExcellence #GalaHighlights #FinanceMagnatesAnnualAwards #FinanceMagnatesAwards #CelebratingSuccess #FinanceCommunity
FMLS:24 | Shaping the Next Era of Financial Evolution
FMLS:24 | Shaping the Next Era of Financial Evolution
Welcome to FMLS:24 – the premier event where influential brands and leaders in trading, payments, fintech, and digital assets come together!
Join over 2,500 industry professionals, engage with 150+ expert speakers, and discover endless opportunities with 70+ top exhibitors. FMLS:24 is where senior executives and decision-makers gather to close deals, forge new partnerships, and strengthen connections with long-term clients.
Whether you’re in finance, technology, or payments, this summit is your gateway to future growth, meaningful collaborations, and industry-leading insights.
👉 Don't miss out – secure your ticket now at https://events.financemagnates.com/ZQEYy0?utm_source=youtube&utm_campaign=fmls24-awareness&utm_medium=video&RefId=MLS%3A24+Video+Promo
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Welcome to FMLS:24 – the premier event where influential brands and leaders in trading, payments, fintech, and digital assets come together!
Join over 2,500 industry professionals, engage with 150+ expert speakers, and discover endless opportunities with 70+ top exhibitors. FMLS:24 is where senior executives and decision-makers gather to close deals, forge new partnerships, and strengthen connections with long-term clients.
Whether you’re in finance, technology, or payments, this summit is your gateway to future growth, meaningful collaborations, and industry-leading insights.
👉 Don't miss out – secure your ticket now at https://events.financemagnates.com/ZQEYy0?utm_source=youtube&utm_campaign=fmls24-awareness&utm_medium=video&RefId=MLS%3A24+Video+Promo
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FMLS:24 | Shaping the Next Era of Financial Evolution
FMLS:24 | Shaping the Next Era of Financial Evolution
Welcome to FMLS:24 – the premier event where influential brands and leaders in trading, payments, fintech, and digital assets come together!
Join over 2,500 industry professionals, engage with 150+ expert speakers, and discover endless opportunities with 70+ top exhibitors. FMLS:24 is where senior executives and decision-makers gather to close deals, forge new partnerships, and strengthen connections with long-term clients.
Whether you’re in finance, technology, or payments, this summit is your gateway to future growth, meaningful collaborations, and industry-leading insights.
👉 Don't miss out – secure your ticket now at https://events.financemagnates.com/ZQEYy0?utm_source=youtube&utm_campaign=fmls24-awareness&utm_medium=video&RefId=MLS%3A24+Video+Promo
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Welcome to FMLS:24 – the premier event where influential brands and leaders in trading, payments, fintech, and digital assets come together!
Join over 2,500 industry professionals, engage with 150+ expert speakers, and discover endless opportunities with 70+ top exhibitors. FMLS:24 is where senior executives and decision-makers gather to close deals, forge new partnerships, and strengthen connections with long-term clients.
Whether you’re in finance, technology, or payments, this summit is your gateway to future growth, meaningful collaborations, and industry-leading insights.
👉 Don't miss out – secure your ticket now at https://events.financemagnates.com/ZQEYy0?utm_source=youtube&utm_campaign=fmls24-awareness&utm_medium=video&RefId=MLS%3A24+Video+Promo
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FM's Andrea Badiola Mateos at LSEG's Cyprus event
FM's Andrea Badiola Mateos at LSEG's Cyprus event
FM's Andrea Badiola Mateos at speaking in a panel discussion at LSEG's Cyprus event
FM's Andrea Badiola Mateos at speaking in a panel discussion at LSEG's Cyprus event
The Role of PAMM, MAM & Copy Trading in Business Growth Strategies | Webinar
The Role of PAMM, MAM & Copy Trading in Business Growth Strategies | Webinar
The copy trading market is projected to double in size, growing from $2.2 billion to $4 billion by the end of this decade. In light of this, brokers and financial institutions are increasingly adopting PAMM, MAM, and Copy Trading solutions to scale operations and drive profitability. In this insightful webinar, Sergey Ryzhavin, Product Owner at B2COPY, outlines the advanced features of the B2COPY platform, showcasing how it enhances Copy Trading, PAMM, and MAM performance. Sergey also explores strategies for using these tools to attract new clients, improve customer engagement, and create additional revenue streams.
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The copy trading market is projected to double in size, growing from $2.2 billion to $4 billion by the end of this decade. In light of this, brokers and financial institutions are increasingly adopting PAMM, MAM, and Copy Trading solutions to scale operations and drive profitability. In this insightful webinar, Sergey Ryzhavin, Product Owner at B2COPY, outlines the advanced features of the B2COPY platform, showcasing how it enhances Copy Trading, PAMM, and MAM performance. Sergey also explores strategies for using these tools to attract new clients, improve customer engagement, and create additional revenue streams.
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